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By extending this Qualifying Offer to Mills, he is free to explore options at other clubs, but the Trailblazers retain the right to match any offer he receives from an NBA team.
For the Blazers this is really just a flexibility play, as Mills accepting the offer means they either lock in his talent at a small cost, or can potentially use him as part of a sign-and-trade/trade scenario.

Years ago
Patty Mills offered Qualifying Contract by Blazers
Paul Pierce could come and play down under in the NZNBL if the lockout goes ahead.
Yes, crazy I know!

Years ago
To clarify a bit further on what this means for Mills:
The Portland Trail Blazers announced on Wednesday that the team has extended a $1.2 million Qualifying Offer to reserve guard Patty Mills as well. The offer to Mills makes him a restricted free agent and gives the Blazers matching rights.
By extending this Qualifying Offer to Mills, he is free to explore options at other clubs, but the Trailblazers retain the right to match any offer he receives from an NBA team.
For the Blazers this is really just a flexibility play, as Mills accepting the offer means they either lock in his talent at a small cost, or can potentially use him as part of a sign-and-trade/trade scenario.
Extending the Qualifying Offer doesn't necessarily guarantee that Mills will be on the opening day roster, as Portland's backcourt is obviously crowded with new starting point guard Raymond Felton and reserves Nolan Smith and Armon Johnson all battling for minutes at the point guard position.
